KAILUA – SINGLE FAMILY HOME MARKET END OF MARCH UPDATE
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ANALYSIS
The Months Supply of Inventory, which currently stands at 2.93, represents how long it would take for all the current listings on the market to be sold based on the current sales pace. A lower months supply indicates a seller’s market, where demand exceeds supply, leading to quicker sales and potentially higher prices.
The Median Days Homes are On the Market, at just 22 days, showcases a fast-paced market where homes are selling quickly. This is a positive indicator for sellers looking to sell their property efficiently and effectively.
The Sold to List Price Percentage of 99.5% signifies that homes are typically selling very close to their list price, indicating a strong seller’s market where buyers are willing to pay close to asking price for desirable properties.
Lastly, the Median Sold Price of $1,956,050 gives sellers an idea of the average price at which homes are selling in the current market. This can help set realistic expectations and guide pricing strategies when listing a property.
Overall, these metrics suggest a strong seller’s market with high demand, low inventory, quick sales, and favorable pricing conditions. As a seller, it is important to leverage this information to maximize the potential sale of your property and achieve optimal results in the current market environment.
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